to brochure - ACI Australia Limited

ACI Australia Dealing Simulation
Marriott Stamford Hotel & Spa
Stamford, CT
th
12 to 15th August 2015
The FASTEST Way to Learn the Dynamics of the FX Market
View the Video: www.aciaustralia.com.au
Take on the role of Sales, Trading and Inter Dealer Broking, build an understanding of
liquidity and execution risk and how to understand and facilitate, customer business
On The only hands-on Simulated Dealing Course of its kind in the world!
There are many critical lessons to be learnt to understand the workings of the foreign exchange
market – What price should I make? What does my customer need? How do I manage my
Customers orders? How do I execute this risk on my or the customer’s behalf? What other risks do
I need to manage? Theoretical knowledge can help but practical experience and training is
paramount.
The ACI Australia Dealing Simulation is the fastest and most effective way to acquire that invaluable
practical knowledge. Participants experience real-life simulated market scenarios over 4 highimpact days.
Run in accordance with the internationally recognised The Model Code - this encourages markets best
practice, integrity and professionalism in trading the OTC markets.
Global Sponsors
The Course
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The Dealing Simulation is designed to teach physical techniques to help you price and manage
risk, execute and manage customer requests – the keys to a successful sales or trading
career, in a realistic and responsible but controlled environment.
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ACI Model Code / Markets Best Practice - No other program offers such a practical and
realistic trading platform, whilst also encouraging teamwork and healthy competition within the
guidelines of the ACI Model Code, the leading financial markets guide on Best Practice.
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Gain experience in price making to customers and the wider market in spot, as well FX options
and FX swaps. Learn how to manage a risk position, generate trading and hedging ideas for
customers. Understand what drives markets and the logic behind FX technology
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Experience an exciting and competitive environment, where teams aim to outperform each
other with high performers recognised and rewarded.
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Learn the role of a price maker, salesperson, execution trader and inter dealer broker in our
simulated dealing room.
18 months’ market experience in one week - For those new to the financial markets, sales people wishing
to gain an understanding of the mechanics of price making and risk management, as well as technical
support or supervisory staff, this dealing simulation equips them with the equivalent experience obtained over
the first 18 months of joining a trading business. This unique course will develop and expand skills and
knowledge within a safe and responsible environment.
Access to presenters’ invaluable wealth of knowledge and extensive international industry
experience – The ACI Australia Dealing Simulation continues to attract the highest quality speakers from all
segments of the industry. The presenters are current and past market participants, who each have in excess
of 25 years’ industry experience. All this knowledge will be at your fingertips.
Personalised Performance Report - At the end of the program, a detailed report is completed by the
presenters for each individual. The report highlights delegate’s strengths and overall commitment to the
program, providing invaluable insight to management.
This course represents a perfect networking opportunity for the delegates - It will allow them to
establish relationships and form alliances early on in their career (with not only other course delegates but
also with key active industry players – the course presenters). Such relationships are invaluable to both the
participant and their employers.
The course has been successfully run in Australia and New Zealand by ACI Australia Limited
(formerly the Australian Forex Association) for the past 25 years.
It has also been presented successfully internationally over the past 15 years, including - eleven courses in
the UK, six each in Denmark, South Africa and the Middle East, eight in the USA, as well as in
locations around Europe, Asia and Africa.
During 2014 all the courses received an average mark of 9.4 out 10 from the delegates.
Who should attend?
The experience gained from this course will be of great value to market participants wishing to increase their
knowledge of physical dealing techniques. This course is also recommended to participants wishing to
establish a career in OTC financial markets or simply to gain an understanding of how the front office works.
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New market entrants and anyone hoping to establish a career in trading within the
Financial Markets
Operations and market risk staff
Inter-dealer brokers
Junior salespeople and traders and those with up to two years’ experience in a dealing room
Funds management employees
Corporate treasury personnel
Legal and compliance officers
E-sales and prime brokerage staff
Programmers and Developers
LEARNING OUTCOMES
This 4 day residential program is designed to train participants in the physical attributes of trading and sales.
The realistic simulation(s) are balanced by a number of market related lectures. At the end of the course
attendees will have gained an understanding of pricing to / dealing with corporations, hedge funds and
mutual fund managers as well as using FX options to hedge risk exposures.
Areas cover
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Making a price
Gauging liquidity and market depth
Customer service – idea generation and
execution
Operational risk
Markets Best Practice – ACI Model Code
The role of brokers
Method and psychology of trading
Risk management
The role of the central bank
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Technical analysis
The logic behind FX technology
How it works
The ACI Australia Dealing Simulation Course offers delegates a chance to step into the mind of a trader in
some of the most active markets the world has ever seen. The course offers a valuable learning for those
with no experience in financial markets, all the way through to those with two to three years’ experience of
exposure to financial markets. In addition, sales people, risk managers, legal and compliance officers as well
as programmers and technology personal, can all gain valuable experience of what their customers and
colleagues encounter daily.
The course uses real-life scenarios, those that have actually occurred in the past, to create a realistic market
environment. However unlike other courses, the Dealing Simulation Course is not pre-programmed, it is truly
interactive and the delegates themselves, along with the customers, are the market, being split into “Banks”
of three or four where each has the opportunity and responsibility to perform the different roles of Chief
Dealer, Electronic and Liquidity Trader and Voice Broker.
A scrolling news service operates throughout the course, publicising headlines that can be non-material while
at other times trigger price volatility of differing magnitudes. Liquidity is accessed via an electronic RFQ
(request for quote) system which enables delegate banks to call each other for prices; an electronic broking
system in which delegate banks can place bids and/or offers for public display; and via the voice broker desk.
Into this mix, the banks also have to quote prices in varying amounts to corporate customers, hedge funds
and real money fund managers – they also see liquidity from algorithmic trading firms and options desks.
The course is a mix of the live dealing sessions – as described above – and classroom lectures, delivered by
market experts, and designed to raise awareness of specific issues that go into creating a good trader.
To stress the interactive nature of the course, the course managers from ACI Australia are able to “dial” up
and down the intensity and volatility within any given session, thus ensuring that no delegate is left behind or
feeling overwhelmed. That said, this course represents, according to countless feedback from previous
delegates, one of the most intense course delegates are ever likely to experience. They are on call 24 hours
a day and are often woken during the night to be informed of orders that have been executed, or, in some
circumstances to rush to the dealing room to undergo a disaster recovery scenario following events in
offshore offices.
To ensure that no two courses are the same, ACI Australia has an extensive historical library of “events” that
trigger market movements; these can be dropped into the course at any time. As the course progresses, the
intensity increases and the delegates are challenged to improve as the week progresses. At some stage
during the week, FX options are introduced into the course and the delegate banks are able to buy option
strategies to complement their cash trading activities.
Feedback from Previous Delegates
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I came away much more confident and well informed on the roles carried out by various market
participants.
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Hands on experience, but we are well supported by the organisers. The passion they have for the
course is incredible and the level of teaching and content meant I learnt a huge amount.
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My objectives were.1/ Wanted to become a better, smarter dealer in my current job. 2/ Wanted to
find out if I was capable and competent in my current role and if financial markets were where I
belonged and really wanted to be. 3/ Wanted to network and meet new people who worked for
different organisations with different backgrounds and experience. So, YES my objectives were met.
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While I do not cover FX it was a great basis for understanding interest rates and other financial
markets. The skills taught are easily transferrable.
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Brilliantly run and was made as realistic as possible. Definitely put this course miles ahead of
anything else out there. I will definitely suggest for my colleagues to attend this next year.
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It gave me a better understanding of my client’s day job.
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I recently commenced a position in FX sales and found the course very helpful in gaining insight into
a trading perspective
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The ACI course exceeded my expectations in regards to the level of experience and learning I got
out of it. I did not expect to be pushed as much as I was in both an intellectual and emotional way.
By far the most worthwhile practical course I have undertaken.
Registration form – ACI Australia Dealing Simulation The below registration should be sent to the following: Fax +612 8064 0210
or Email: chris.howlett@aciaustralia.com.au
Personal details
 Dr
 Mr
 Mrs
 Ms
 Miss
Full Name (surname first) _________________________ ______________________
Position ____________________________________________________________________________________
Company Name _________________________________ ______________________ _____________________
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City ___________________________________________ State __________________ Postcode ______________
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Special request for food __________________________ ______________________ _____________________
Registration fee:
STANDARD REGISTRATION FEE INCLUDES: Course tuition and materials, accommodation food costs.
The fees do not cover telephone calls, use of bar fridges, room service and incidentals are at delegates’ own
expense.
FINANCIAL CALCULATORS ARE REQUIRED SO PLEASE ENSURE YOU BRING ONE
Registration fee: USD 3,900.00
Method of payment
PAYMENT IS REQUIRED WITH REGISTRATION.
Direct Credit (will send invoice with bank details)
or
Provide credit card details below:
Visa
MasterCard
American Express
Please note a surcharge applies of 3.00% for Credit Card Payments
Cardholders Name
Total Amount
Card Number
CCV Number
Expiry Date
Signature
Delegates’ places are not guaranteed until the payment has been received. An invoice will be sent upon receipt of
registration with payment details.
Any Queries:
Please contact Chris Howlett at ACI Australia Ltd either via fax or email.
fax +612 8064 0210
Email: chris.howlett@aciaustralia.com.au
OR
Please contact Michael Guarino at ACI America
Email: michael.guarino@aciamerica.us
Dress code: Smart casual dress throughout the course is appropriate
Visa requirements: If required, these are the responsibility of the delegate.
Important notices: All courses are subject to demand. The Association reserves the right to cancel or postpone
courses at short notice at no loss or liability where, in absolute discretion, it deems this necessary
ABOUT THE PRESENTERS
CHRIS HOWLETT
Chris Howlett has over 28 years’ experience in the OTC markets, trading out of the main financial centres (London,
Singapore & Sydney). His extensive experience ranges across the trading, broking, sales & education of all OTC
products. In his current role as Director & COO of ACI Australia, Chris’ prime responsibility is organising and
presenting ACI Australia’s Dealing Simulation (developed by Chris in 1985) to other associations globally as well as
helping these associations and their local Central Banks with the Licensing and Accreditation of their OTC market.
Chris is currently a member of the ACI International Board of Education and has also been Chairman of the
Education Committee for ACI Australia, Director and Secretary of ACI Australia, Vice President of ACI Singapore
and a member of the Strategic Planning Group for ACI International. Is also a qualified Certificate IV Trainer and
assessor.
JACK RICHARDS
Jack has over 30 years’ experience, both onshore and offshore in Financial Markets. His current role is Director,
Credit Risk Management for the National Australia Bank based in Sydney. His prime responsibility is managing
the Global Credit Risk for the bank’s head office and Asian dealing rooms, comprising approximately 150
dealers. He also monitors the Credit Risk for the Bank of New Zealand dealing rooms in Wellington, Auckland
and Christchurch. Jack is currently President of ACI Australia and has been an Executive Committee Member of
ACI since 1988. He was also a Foundation Member of the Junior Dealers Conference (now ACI Dealing
Simulation Course). Jack is a graduate of the University of New South Wales, Sydney Australia.
KEVIN O’REILLY
Kevin is the Managing Director of FXware Ltd Australia and developer of the simulated trading systems used in
this workshop. Kevin has over 20 years of financial markets trading experience with one of Australia’s leading
trading banks and over 10 years’ experience developing electronic trading platforms for foreign exchange
and debt markets. Kevin has authored a number of specialised financial markets courses that combine simulated
trading technologies with financial markets educational content to deliver a unique learning experience for
participants. Kevin’s company, FXware Pty Limited Australia, is a key provider to leading financial markets
educational organisations. Kevin holds a Masters of Business and Technology from UNSW and is a qualified
Certificate IV Trainer and assessor.
DEALING SIMULATION PROGRAM
DAY 1 – Wednesday 12 August
8.30am
9.30am
10.00am
11.00am
12.00pm
1.00pm
1.45pm
2.30pm
3.30pm
Registration & Coffee
Welcome & Opening Remarks
Spot FX Market & DS Rules
Intro to Dealing Simulation (Systems,
broking, dealing, terminals)
Lunch
Practice Dealing Sessions
Method &Psychology of Trading
Dealing Session 1
Balance Dealing Session 1
3.45pm
4.00pm
5.00pm
6.00pm
Afternoon Tea
FX Swaps – Theory & Practical
Dealing Session 2
Balance Dealing Session 2
6.30pm
7.30pm
End of Day 1
Opening Dinner & Official Welcome
DAY 2 – Thursday 13 August
7.00am
8.00am
8.15am
9.15am
9.30am
10.15am
10.30am
11.00pm
12.15pm
12.30pm
Breakfast
Introduction to Day 2
Dealing Session 3
Balance Dealing Session 3
Electronic Broking
Morning Tea
ACI America
Dealing Session 4 – Spot / FX Swaps
Balance Dealing Session 4
Lunch
1.15pm
2.30pm
2.45pm
3.45pm
4.00pm
4.45pm
6.00pm
6.30pm
7.30pm
Dealing Session 5 – Spot / FX Swaps
Balance Dealing Session 5
FX Options – Theory & Practical
Afternoon Tea
Market Best Practice / ACI Model Code
Dealing Session 6 – Spot / FX Swaps
Balance Dealing Session 6
End Day 2
Dinner
DAY 3 – Friday 14 August
7.30am
8.15am
8.30am
9.00am
10.15am
10.30am
10.45am
12.30pm
1.30pm
Breakfast
Introduction to Day 3
FX Options – Decision making
Dealing Session 7 – Spot / FX Options
Balance Dealing Session 7
Morning Tea
Exam
Lunch
Dealing Session 8 – Spot / FX Options
2.45pm
3.00pm
3.30pm
4.00pm
5.15pm
5.30pm
6.00pm
7.00pm
Balance Dealing Session 8
Afternoon Tea
Execution & Order Management
Dealing Session 9 – Spot / FX Options
Balance Dealing Session 9
Question Time
End of Day 3
Dinner
DAY 4 – Saturday 15 April
7.30am
8.30am
9.30am
10.00am
Breakfast
Dealing Session 10
Balance Dealing Session 10
Coffee & Check Out
10.45am
11.30am
Awards & Presentations
End of Course
PLEASE NOTE THAT THE PROGRAM MAY BE SUBJECT TO CHANGE